Madison Timber Ponzi Scheme

The Clarion-Ledger reported that con man and thief Lamar Adams was sentenced to 19.5 years in prison:

Former Madison County businessman Arthur Lamar Adams was sentenced Tuesday to 19½ years in prison for his $100 million Ponzi scheme…

Investors didn’t know Adams’ business, Madison Timber Properties, was a Ponzi scheme, prosecutors said. He promised the

The receiver in the Madison Timber ponzi scheme filed the first third-party action yesterday. It’s a doozy. Here’s the Complaint filed against Michael Billings, Terry Kelly, Jr., William McHenry, Jr. and related entities. It’s a good read.

The Complaint alleges Defendants received $16 million in Madison Timber commissions. I repeat, $16 million!

The Receiver also